Escrow Refund definition

Escrow Refund means the amount of any escrow monies paid by Borrower under the Purchase Agreements which is returned to, and received by, Borrower from Seller in accordance with the terms of the Purchase Agreements.
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Examples of Escrow Refund in a sentence

  • The Company shall dissolve the Escrow Account and release the funds therein to the party entitled to said funds, according to this section, upon the earlier of the following, (i) if there is an Ecrow Release Event, all funds in the Escrow Account shall be due to the Company, immediately, or (ii) if there is an Escrow Refund Event, all funds in the Escrow Account shall be due to the Investor pari passu with all other investors, based on said investor’s Purchase Amount.

  • Any indemnity payments made by a Party (including for the avoidance of doubt payments made to Sellers of the Exxon Escrow Refund) pursuant to this Agreement shall be treated as an adjustment to the Purchase Price for federal, state and local income tax purposes unless otherwise required by applicable Law.

  • At such time, Seller shall deliver a certification to the Escrow Agent, detailing the amount of the Escrow to be released to Seller (the "Escrow Refund"), and the Escrow Agent shall disburse the Escrow Refund to Seller into that certain account described on Exhibit A attached hereto and incorporated herein.

  • For and through the 2017 calendar year, before and after giving effect to the Exxon Escrow Refund, the Exxon Escrow Account is fully funded in accordance with (i) the Purchase and Sale Agreement and Assignment and ▇▇▇▇ of Sale, each dated effective January 1, 2005, among Exxon (and its affiliates), the Company and NNOGC, and (ii) the Escrow Agreement, and as of the Execution Date and, as applicable, the Closing Date, no additional payments are due by the Company thereunder.

  • If after the Closing Buyer receives the Exxon Escrow Refund attributable to the Company as contemplated by the First Escrow Amendment, Buyer shall immediately notify Sellers of the receipt of the Exxon Escrow Refund and pay the full amount of the Exxon Escrow Refund received by Buyer to Sellers within five (5) Business Days of receipt of the Exxon Escrow Refund.

  • For the avoidance of doubt, the Parties acknowledge that the portion of the Exxon Escrow Refund attributable to NNOGC will be paid directly by Exxon to NNOGC.

  • In the event of the Escrow Refund, the Agreement between the Company and the Trust Member will be deemed rescinded and of no force or effect.

Related to Escrow Refund

  • Escrow Receipt Means the receipt substantially in the form annexed to the Escrow Agreement representing a fractional undivided interest in the funds held in escrow thereunder.

  • Escrow Deposit has the meaning set forth in Section 2.1.

  • Escrow Amount has the meaning set forth in Section 2.1(c).

  • Escrow Fund means the escrow fund established pursuant to the Escrow Agreement.

  • Indemnity Escrow Amount means $3,000,000.